A long-planned mixed-use affordable housing project for Lincoln Square secured a vital approval this week.
The Chicago Plan Commission approved plans for The Community Builders and The Boar Company to build a six-story building at 4715 North Western Avenue, Urbanize Chicago reported. The decision came after the vote was delayed due to concerns about the development’s inclusion of parking.
When the project, which was originally proposed in 2019, got Low Income Housing Tax Credit financing at the end of 2021, the city then demanded the project have less parking and that the parking entrance be moved from North Western Avenue to the alley.
The slightly altered plan, designed by architect DesignBridge, calls for 63 new affordable homes, which is an increase from the originally planned 51, as well as 4,995 square feet of ground-floor commercial and an expanded outdoor public space. The parking has been reduced to 36 spaces, down from 50. There will be 18 public parking spaces and 18 private spaces for residents. In addition, there will also be 66 bike parking spaces.
Despite concerns from the city, the parking entrance will remain along North Western Avenue, as many local business owners said they feared an alley entrance would cause more issues than it would solve.
All 63 of the residential units will be marketed as affordable housing. There will be 25 studio units, 29 one-bedroom units and nine two-bedroom units. They will be marketed for residents making 30, 60 or 80 percent of the area median income.
Back in September, Chicago’s Community Development Commission approved the sale of the city-owned land at 4715 North Western Avenue for the project. In addition, $8 million in tax increment financing was also granted for the project.
The zoning application will also begin seeking approvals from the Committee on Zoning and the City Council. Construction is set to begin as early as Spring 2023.
— Victoria Pruitt